The Fed may start lowering interest rates in December

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Wednesday, November 30, 2022 - 23:37
Point Trader Group

Federal Reserve Chairman Jerome Powell confirmed Wednesday, November 30, that a slower rate hike is likely soon, even as he sees progress in combating inflation as largely insufficient.

Echoing recent comments from other central bank officials and comments at the November Fed meeting, Powell said he sees the central bank in a position to taper the scale of rate hikes as soon as next month.

But he cautioned that monetary policy is likely to remain tight for some time until there are real signs of progress on inflation.

"Despite some promising developments, we still have a long way to go to restore price stability," Powell said in remarks delivered at the Brookings Institution.


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